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Mansion Global Daily: Australia's Gold Coast Market Poised to Stay Strong After Games, London Prices Drop and More

Mansion Global’s daily round-up of the latest luxury real estate news from around the world

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Wiki Commons
Wiki Commons

Gold Coast Market Set to Stay Strong After Commonwealth Games

Ahead of April’s Commonwealth Games, eyes are on Australia’s Gold Coast, which will host the event this year. Property prices are expected to remain strong after the 10-day event has closed, according to a report Tuesday by RiskWise Property Research. Read More

BY THE NUMBERS

TRENDING TODAY

LISTING OF THE DAY

Beachfront Villa on Kenya’s Indian Ocean

This sprawling villa features lush tropical gardens, 60 meters of pristine beach frontage and great views of the Indian Ocean. Read More

SMART HOMES

Time for a New High-Tech Clock

In today’s always-connected, ever-moving world, knowing the time is just one piece of an endless supply of information you could require at any given moment. Fortunately, the newest models of smart clocks have taken this into consideration and aim to be one-stop informational portals. Read More

NEWS BITES

British Columbia’s Vacation Homes Face Possible Tax A proposed new speculation tax could cause some with vacation homes in British Columbia, Canada, to consider selling. The government’s plan for a potential 2% tax on unoccupied homes in certain areas of British Columbia, which include Vancouver, Victoria, Nanaimo, the Fraser Valley and Kelowna, is expected to affect 15,000 homes and has been designed as a way to alleviate issues of unaffordability and excessive home prices. Vancouver Sun

Mortgage Payments Could Increase Under Potential Freddie Mac, Fannie Mae Changes Potential U.S. Congressional changes to government-sponsored enterprises Fannie Mae and Freddie Mac could have homeowners seeing increases in their mortgage payments. The reforms would help protect taxpayers from risks that would come from a future housing market crash and would include either shorter loan periods (15 years as opposed to 30) or higher rates. Zillow estimates that the measures could see mortgage-holders paying up to an additional $400 monthly. World Property Journal

Trump Buildings Lag Behind Luxury Rivals Trump-branded buildings have fallen behind their Manhattan rivals, with 2017 sales 6.6% lower than the condominium average at $1,741 per square foot, according to a report from CityRealty. Trump Tower, where the president keeps his New York City home, has seen prices fall since 2013. They’re currently averaging $3,000 per square foot, falling behind buildings like 432 Park Avenue, Time Warner Center and One57. Three Riverside Boulevard rental buildings have taken the Trump name off of their signs, while a nearby condo building is looking to do the same. The New York Times

Cyprus Market Strengthens Housing prices in Cyprus have grown stronger, with increases of 7.4% for apartments and 4.2% for houses in the third quarter of 2017. A report from Royal Institution of Chartered Surveyorsalso showed apartment rents up 4.6% for the quarter and 12.5% for the year; house rents were up 2.5% for the quarter and 9.2% for the year. The number of sales has also grown, with February numbers up 46% on the prior year. PropertyWire

AROUND NEWS CORP

Director John Woo Selling His $7.5M Retreat in Pacific Palisades [Realtor.com]

These Real Estate Fund Managers Show There’s Money to Be Made as Rates Rise [MarketWatch]

6 Tricks to Keep Your Home Safe During Travel [Fox News]

Old One Bedroom Queenscliff Clifftop House Sells for $5.55 Million [realestate.com.au]

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